D-Street cheers exit poll results; Sensex climbs 300 points, Nifty above 10,350

Benchmark equity indices BSE Sensex and NSE Nifty surged nearly 1 per cent each in early trade on Friday after exit polls predicted a victory for the ruling BJP in Gujarat. The BSE Sensex advanced over 300 points in early trade, while NSE Nifty index surpassed 10,350-level.

Both indices wiped off some of their gains after hitting their highest level in early trade. The BSE Sensex was trading 268 points, or 0.81 per cent, up at 33,514 at around 9.30 am (IST), while NSE Nifty index was up 90.40 points, or 0.88 per cent, up at 10,342 at around the same time.

As many as 47 stocks in Nifty index were trading in green with Vedanta, Adani Ports, Hindalco and HDFC Bank gaining over 2 per cent each. Larsen & Toubro was up 1.85 per cent at Rs 1210.75.

On the other hand, Tech Mahindra, Kotak Mahinra Bank and Asian Paints were down between 0.15 per cent and 0.55 per cent.

Shares of Shalby will debut on the bourses on Friday after its recently concluded initial public offer (IPO). The IPO of Shalby received bids for 4.08 crore shares, data on NSE showed. The IPO was subscribed 2.82 times. The price band of the IPO was Rs 245 to Rs 248 per share. The IPO opened for subscription on 5 December 2017 and closed on 7 December 2017.

Foreign portfolio investors stood net buyers in domestic equity markets on Thursday and bought shares worth Rs 187.73 crore with gross purchases and gross sales stood at Rs 6,080.46 crore and Rs 5,892.73 crore, respectively.

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